Category: Europe

The global sukuk market for Islamic finance faces a pivotal moment. A new framework from the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) threatens to destabilise a $1tn market that has become a vital funding source for sovereigns and corporates across the Middle East, Asia and beyond. The spiritual imperative behind proposed changes to AAOIFI’s Shariah Standard 62 is deeply respected. They seek to make sukuk debt appear less like debt with charged interest, something that is prohibited under Islamic law. However, the real-world effects could fracture a market that has flourished precisely because of its consistency and investor confidence. The stakes for global Islamic finance could not be higher…

At a time when domestic political turmoil seemed to engulf his second term, Emmanuel Macron is experiencing a remarkable political resurrection. His approval rating has jumped from 24 percent in March to 31 percent in April — a phenomenon whose origins lie not in domestic successes but in an unexpected international circumstance: Donald Trump’s hostility toward NATO has suddenly transformed Macron’s long-ridiculed vision of European strategic autonomy into a lucid premonition…

As Donald Trump heads back to the White House, leaders across the Middle East anticipate the revival of a pragmatic partnership centered on economic growth, security, and regional stability. Trump’s first term resonated with Gulf leaders and beyond, emphasizing results over ideology—a stark contrast to the Biden administration. His tenure’s signature accomplishments, including the Abraham Accords, a robust stance on Iran, and business-driven diplomacy, are seen as a roadmap for renewed progress in the region…

Was the criticism of France’s presence in Mali, Guinea, Burkina Faso and Niger more about national pride than about fostering true democratic development…

Israel has dramatically escalated its military operations, extending beyond Gaza to include strikes in Lebanon, Yemen and Syria. This expansion marks a significant shift in strategy that borrows heavily from the American playbook while tailoring it to Israel’s unique geopolitical context. As the conflict intensifies, it’s crucial to examine the implications of this approach, not just for the Middle East but for global security and economic stability…

President Biden entered office with a wealth of foreign policy experience and the promise to restore American leadership on the global stage. Yet, as his term nears its end, his administration’s handling of international crises raises questions about the effectiveness of his approach…

The 2024 U.S. presidential election is in full swing with candidates talking economic policy but partially skirting round foreign policy challenges. The foreign policy debate has been limited with most commentary focused on whether the policy will be more “arrogant” or “predictable”, neither of which are informative descriptions for a candidate or directionally insightful as a strategy. The next U.S. president will face several key issues on day 1 and, while temperament can be part of the test, there is a question of policy answers and details…

The French election may pass under the radar in the U.S., but there are some key takeaways for Americans…

2024 is the year of elections…for most voters, “It’s the economy, stupid” may reign supreme…these are 10 bellwether economies to watch in 2024…